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How I Turned a Losing Trade to a Winning Trade.

Forex Trading Strategies – How I Turned a Losing Trade to a Winning Trade.

Forex trading pair: GOLD = XAU USD
This is an interesting trade on the forex pair XAU USD.
In the chart above, we see a series of forex price action inside bars. (Highlighted in the blue box)
Meaning bars that are smaller than the previous bars.
When a series of inside bars like the above happen.
It means that price is having an indecision of where to go.
It’s like it is gathering momentum, for a burst out of either side.
Which could either be up or down.
So what happened in this scenario is that we placed 2 pending orders. A buy and a sell.
These 2 orders are marked by the gold line (entry) and the red line (stoploss).
So the buy order triggered. (Gold line -Entry) and we got in on a buy trade.
With that, i took away the pending order for the sell trade and made it a stoploss for the buy order.
Forex Trading Strategies – How I Turned a Losing Trade to a Winning Trade

When i trade, i would usually have 2 take profit targets.
So that when take profit 1 is hit. Which is marked by the purple line. I would have taken my first profit off and shifted my stoploss for position 2 to break even.
By doing so, i am also on the “SAFE” side. As price may hit Take profit 1 and reverse back down.
And as i have taken profit a TP1, my 2nd position’s stoploss is shifted to breakeven.
So i am in a FREE trade.
So whether or not it may hit TP2. I have already gotten profits.
In this scenario, i have taken profit at TP1 and my 2nd position has hit my stoploss for breakeven.
So i’m out for this trade.
From this scenario you can see that i am not always perfect.
No one is.
By trading on the above method, we are sure that our account size will grow consistently.
Forex Trading Strategies – How I Turned a Losing Trade to a Winning Trade

Lets look at what happen next.

Price went right down after which.
So if i hadn’t had a TP 1 and TP2 method.
I would have kept my stop loss at the red line.
And made a loss on this trade.
BUT By doing playing the above method.
Instead i have gotten profits..
I hope you gain something from this post. Let me know if you did.

Thanks for the post. You've demonstrated your theory with a commodity. Would you argue that this theory is applicable to any type of trading or just Gold?

Also, how many times has this worked for you?

Gold trading is always profitable provided that you are able to Enter into the markets at the right times and also you must have good trading balance to be able to tide the rough times and the changes in the volatility present in the markets.

Gold trading is always profitable provided that you are able to Enter into the markets at the right times and also you must have good trading balance to be able to tide the rough times and the changes in the volatility present in the markets.

Gold trading is always profitable provided that you are able to Enter into the markets at the right times and also you must have good trading balance to be able to tide the rough times and the changes in the volatility present in the markets.

so how I define "right times" to entry trade ? how much do you invest with your gold trading ? at what amount your account currently, and how much do you suggest for any newbie trade planning on gold trading. for now I had 500 usd at my tickmill account, their gold spread seem good one, 10 pips spread with gold price, if only you put a direct description of what 'right time' really is, or we just rely on news event while trading with gold.

Stop losses are important however I have noticed that few brokers also offering Negative Balance Protection as well that usually adjust the amount if traders' trades went from positive into negative. Haven't used it yet however i got an email from my broker offering it and that seems to be legit so far.

Hey there, thanks for sharing your winning theory. Just wanted to know did you put in 2 orders at the same price in order to use this method?f the first price target didnt hit and stoploss was hit first, then would you have two losing trades?